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Tuesday, 26 May 2015

Financial Orbit wrap 26/05/15

Five sentences or graphics which sum up the Financial Orbit output over the last 24 hours across the website, twitter account and anything else thought about...
1. Greece – the latest Varoufakis media output is here:‘Austerity is the only dealbreaker’. Essentially if the creditors don’t impose austerity then Greece will strike a deal. The discussions roll on… Good chart however from the report:

2. China - SHCOMP HEADING FOR ITS BIGGEST 6-DAY RALLY SINCE NOVEMBER 2008.......up 19% from May 8th!!!! (h/t @RANSquawk) Shenzhen market doubled in 5 months and McLaren say supercar demand best ever (link here). Still rampant markets have been great for hedge fund investors in the area...

3. Ryanair published some solid numbers based on their low cost orientation...

...but despite this at prevailing I prefer their peer EasyJet which has materially underperformed over the last year or so.

4. I write up today's EMC deal which the company is very excited about:

5. I listened to the Charter / Time Warner Cable conference call. I think the anti-trust side will be ok but I read that Charter's debt may be downgraded to junk...this is what tends to happen when debt leverage reaches theoretically over four times.